Indian cabinet approves signing of customs agreement with Armenia

The Indian government chaired by Prime Minister Narendra Modi on Wednesday approved signing and ratification of an agreement between India and Armenia on cooperation and mutual assistance in customs matters, Business Standard reported.

The agreement will be signed  after it is approved by the respective governments.

“This agreement shall enter into force on the first day of the second month after the contracting parties notify each other in through diplomatic channels, that the necessary national legal requirements for entry into force of this agreement have been fulfilled,” an official statement said.

It will help in the availability of relevant information for the prevention and investigation of customs offences. It is also expected to facilitate trade and ensure efficient clearance of goods traded between the countries.

The agreement would provide a legal framework for sharing of information and intelligence between the customs authorities of the two countries and help in the proper application of customs laws, prevention and investigation of customs offences and the facilitation of legitimate trade.

The draft text of the agreement has been finalized with the concurrence of the two customs administrations.

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